Quality product data is becoming increasingly important for attracting online customers, according to a new industry review carried out by price comparison provider Become Europe. The company found an increasing demand for detailed product information on price comparison sites. The assessment was carried out following the switch from the previously free Google product search function […]
Quality product data is becoming increasingly important for attracting online customers, according to a new industry review carried out by price comparison provider Become Europe.
The company found an increasing demand for detailed product information on price comparison sites. The assessment was carried out following the switch from the previously free Google product search function to fee-based Google Shopping Product Listing Ads earlier this year.
Become Europe has released a nine-point action plan containing practical tips for retailers looking to improve the quality of their data feeds on price comparison sites based on the conclusions. The points form the basis for a whitepaper targeted at online retailers wanting to enhance their product marketing.
“Due to increasing competition among retailers, those who can provide the best product, delivery and shop information at their first point of contact with customers on price comparison sites are most likely to receive a click,” said Michael Rausch, General Manager at Become Europe. “Having a great online shop is not enough – if retailers want to succeed on price comparison sites, it is essential to display all the relevant data customers need to make a purchase decision as early on as possible in their shopping journey.”
“While the price of a product plays a leading role in purchase decision-making, other factors like VAT information, delivery options, manufacturer details or an attractive image can also sway the shopper,” continued Rausch.
Industry insiders predicted a collapse in turnover for price comparison providers due to budget transfers going towards Google Shopping, and away from price comparison. However, Become Europe’s findings revealed that online retailers have remained loyal to price comparison providers.
“The switch from a free product search function to a paid-for version means that retailers that do product data marketing have to spread their budgets over several channels, including price comparison sites, search engines and affiliate networks,” said Michael Rausch. “Industry insiders had expected this change to result in losses for price comparison providers – but we are recording continuous growth from our retail customers and sales, suggesting that the price comparison format is well-established and inspires loyalty in retailers.”
Nine practical tips for retailers
1. Always provide all fields required for integration within the feed.
2. Always pay attention to current prices in your feed: these should always correspond to those on your website.
3. The offer name should be meaningful and only consist of relevant information. Additional data belongs in the description.
4. The price comparison operator can categorise your offers more efficiently if you specify precisely to which category the respective offer should be assigned in the feed.
5. Details required by the legislator such as shipping costs must be included – final price including. VAT
6. Pictures and good descriptions immensely enhance the visibility of your offers.
7. Product codes are very important in this age of smart phones with code scanners. If possible, always provide EAN, ISBN or similar codes directly in the feed for each offer.
8. Track your clicks and sales with the aid of “ROI Sales Tracking”. Only this way can you optimise the performance of your offers.
9. Cultivate the image of your shop by displaying all important information (shop address, methods of payment, and certificates) and provide a shop logo.
www.become.eu
